All Forum Posts by: Brooke Dyer

Hi Toby! 

Great questions! I'm a licensed Realtor in Northeast Georgia and can shed some light based on my experience.

1. Sponsoring Broker for Part-Time Realtors:
   Yes, in Georgia, you need to affiliate with a broker to activate your license after passing the licensing exam. Many brokers are open to part-time agents, especially those focusing on investing rather than traditional sales. Look for brokerages that cater to investors or offer minimal oversight plans, such as virtual or flat-fee brokerages. Be upfront about your goals during interviews to find a good fit.
2. Broker's Share of Commissions:
   Yes, brokers generally take a portion of any commission you earn, even if it's from a property you purchase for yourself. The exact split will depend on your agreement with the brokerage. Some flat-fee or investor-focused brokerages charge a minimal transaction fee, which can save you money if you're not planning to generate regular commissions.

Additional Tips:

• If your primary goal is access to the MLS and flexibility in viewing properties, evaluate the costs of holding a license (e.g., broker fees, MLS dues, continuing education) versus alternatives like working closely with an investor-friendly agent.
• Consider whether the time required for licensing, post-licensing education, and maintaining your license is worth it for your investment strategy.

If you need help finding an investor-friendly brokerage in Georgia or navigating the process, feel free to reach out! I’d be happy to help guide you further.

Hi David! Congratulations on the launch of your first STR!

I agree with Michael—staying competitive is key! Make sure to do thorough market research and leverage dynamic pricing tools, especially when launching during peak season. You don’t want to miss out on potential income. Take the time to craft a listing that stands out and is ready to book quickly once it’s live. I recommend pricing your property within 10%-15% of similar listings in your area to stay competitive, ensuring you attract the right guests without undervaluing your space.

Awesome discussion question! 

One of the biggest lessons I've learned as an STR cohost, marketer & investor-friendly Realtor is the importance of thorough market research and setting up your listing based on data. Competitive analysis is key—understanding your local market, pricing, and what amenities and features guests value will set you up for success. Pricing, photos, description, and early guest ratings are critical for long-term performance. Taking the time to get these elements right can save so much stress and headache down the line. Proper setup from the start can prevent major issues and ensure you're profiting from the start!

Hi Gil! Happy to connect!!

Hi Fiona!

For a beginner looking for long-term real estate investment growth, here are a few great options:

1. Buy-and-Hold Rentals: Purchase a property to rent out, which builds equity and generates passive income over time. It’s a stable, hands-on way to start and learn property management basics.
2. House Hacking: Live in a multi-unit property and rent out other units or rent out rooms. This offsets your mortgage and builds equity while you gain experience with lower risk.
3. Real Estate Investment Trusts (REITs): REITs let you invest in real estate without directly managing property. They offer long-term growth potential with less involvement.

Each approach offers a solid start in real estate. If you’d like more details on any of these, let me know!

Hi Robbie! 

It sounds like your Atlanta property has great potential to create income in other ways outside of STRs! 

Here are a few alternative rental strategies:

1. Medium-Term Rentals: Platforms like Furnished Finder connect you with traveling professionals, such as nurses and corporate employees, looking for 30-90 day stays. This can bring you steady income with less frequent turnover and lower maintenance than STRs.
2. Executive Housing/Corporate Rentals: Atlanta’s entertainment and business sectors drive high demand for corporate housing. You could partner with agencies or local companies to rent to relocating professionals. Renting both floors, if you decide to move, could further boost income.
3. Film/Photography Location Rental: Atlanta’s film industry is booming, and many productions seek unique homes for short shoots. Platforms like Peerspace or Giggster can offer high payouts per booking, letting you earn with fewer ongoing responsibilities.
4. Consider Selling: Selling could free up funds to invest in a property better suited to your goals.

Each option offers unique benefits, and I’d be happy to connect you with resources to get started. Good luck with whichever path you choose!

Hi Robert! Welcome to the Bigger Pockets Community!

It’s great to see how thoughtfully you’re approaching your goal of financial independence and exploring different income streams. You’re on the right track, and it’s a solid strategy to start with long-term rentals to build a stable income base. Investing in residential rentals can offer dependable cash flow and gradual appreciation, which could help fuel your interest in bigger projects down the line. I work with many investors in North Georgia who are building their portfolios with long-term rentals, often by purchasing distressed properties or those that need a bit of work. This approach allows them to add value, increase equity, and create rentals that can generate strong returns.

If you're thinking about commercial real estate, there’s definitely a learning curve, but the long-term stability and potential for diversification are huge pluses. Often, the key to transitioning successfully is starting small, perhaps with a mixed-use property or something that doesn't require a steep initial learning curve. 

For the scenic land and campground idea, that’s a fascinating niche! More travelers and RV owners are looking for private, unique camping experiences, and low-density parks with quality amenities are very appealing to this crowd. The market research and development can be intensive, but there’s growing demand in many areas, especially near popular natural destinations.

Best of luck! 

Brooke

I agree with @Heather Cunningham ! 

In addition to using AirDNA, research active and potential competitor rentals in your target market near Gatlinburg by browsing booking platforms. Take a close look at both the property types, analyzing their average nightly rates and occupancy trends.

As you search for investment properties, consider those with both pools and stunning views. This will allow you to run specific underwriting and projection tools to better assess each option.

Remember, owning a property with a pool comes with added expenses, such as heating, emergency and routine maintenance, and higher insurance costs. Keep this in mind when calculating potential profitability.

Research active and potential competitive rentals in your intended market near Gatlinburg, not just through AirDNA, but searching booking platforms. Analyze both property types including the average nightly rates and occupancy rates. 

As you search for properties I would be open to viewing both properties with pools and amazing views. From here, you can analyze specific properties and run underwriting and projection tools.

Keep in mind that running a property with a pool does incur more expenses, heating the pool, emergency maintenance, standard maintenance, higher insurance, etc.

My husband and I began our real estate journey as short-term rental (STR) cohosts. I completely agree that cohosting is a job and definitely not passive income. It provided us with valuable insights into STRs as we considered whether this was a real estate investment strategy we wanted to pursue. Cohosting can be a broad term, so it's crucial to clearly define the tasks and responsibilities you're managing and differentiate yourself from others in your market. Make sure to research local rates for cohosting and management services to stay competitive.

If you're doing this as a side gig or part-time job, it’s essential to time block, create systems, set expectations with property owners, and establish boundaries to ensure a smooth experience for everyone involved.

We opted not to pursue rental arbitrage for two key reasons: dealing with landlords and the significant upfront costs to set up and run a profitable STR without the benefit of property ownership. Just not for us in our local market in Georgia.

Here are a few of my top tips for making your property pet-friendly:

Research local pet fees: Ensure your pet fees are competitive while still allowing you to cover potential wear and tear and make a profit.

Set a pet limit: Specify the maximum number of pets allowed on your short-term rental platforms and highlight this in multiple areas of your listing, including your property rules.

Provide pet essentials: Invest in items like a large dog crate and pet food bowls for guest use.

Create clear pet rules: Share these rules with guests during check-in. For example, having a dog crate available can encourage guests to crate their pets when leaving the property.

Promote your pet-friendly status: Make sure to highlight in the listing title and throughout the description that you welcome pets!